⚖️🇩🇪 German Curve Underperformed, 2-Yr Yields Rose to Highest Since 2008: Cable FX Macro

**As seen in Macro Walk report 03/03/23, subscribe at cablefxm.co.uk/reports

• Our watch list of sovereign debt saw the German yield curve rise the most on the week as 2-year Bund yields jumped by 18.03 basis points, the 10-year equivalent increased by 17.7 basis points

• The move sent German 2-year Bund yields to the highest since 2008 and finished the week at 3.20%

• As of Friday close, the pressure in the front-end has pushed yields higher by 46.3bps so far this year, this follows a 337bps increase in 2022

• Across the Atlantic, the Treasury 2-year yield rose 4.2 basis points to 4.858%. Across the pond, the Gilt 2-year yield fell 32.8 basis points to 3.699%